FirstMeridian Business Services IPO Company Profile:
Within only four years since FirstMeridian Business Services Limited’s inception, it has become India’s third-largest staffing company, in terms of revenue for the financial year ended March 31, 2022. The company provides a wide range of service offerings, including:
General staffing and allied services, by offering contract staffing solutions, workforce automation solutions, and trade marketing solutions to meet the business needs of clients across diverse industries;
Global technology solutions, offered through short- and long-term technology contract staffing solutions for clients; and
Other HR services, including permanent recruitment, recruitment process outsourcing (“RPO”), pharmaceutical and healthcare staffing, facility management, engineering and technical staffing, and finance accounting and legal staffing.
The company has developed sector-specific capabilities that have enabled it to serve a diverse client base in a wide range of industries, including telecommunications, retail, banking, financial services and insurance (“BFSI”), construction and infrastructure, information technology (“IT”) and information technology-enabled services (“ITES”), e-commerce, manufacturing and engineering, and logistics.
|Name of clients||Sector|
|Adani Ports and Special Economic Zone Limited||Construction and infrastructure|
|Dell International Services India Private Limited||Retail|
|PhonePe Private Limited||BFSI|
|Exide Industries Limited||Manufacturing and engineering|
|Eureka Forbes Limited||Retail|
FirstMeridian Business Services IPO Details:
|IPO Open Date||Not Available|
|IPO Close Date||Not Available|
|Listing Date||Not Available|
|Face Value||₹10 per share|
|Lot Size||Not Available|
(aggregating up to ₹740 Cr)
(aggregating up to ₹50 Cr)
|Offer For Sale||[●]shares
(aggregating up to ₹690 Cr)
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|
|QIB Shares Offered||Not more than 75% of the Offer|
|NII (HNI) Shares Offered||Not less than 15% of the Offer|
|Retail Shares Offered||Not less than 10% of the Offer|
|Promoters||Manpower Solutions Limited|
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Check FirstMeridian Business Services IPO Allotment Status
Go FirstMeridian Business Services IPO allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.
One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-
FirstMeridian Business Services IPO Financial Analysis:
|Particulars||6M of FY-23(in cr.)||FY-22(in cr.)||FY-21(in cr.)||FY-20(in cr.)||CAGR|
|Revenue from Operations||1735.24||2862.12||2110.29||2058.44||17.9%|
|Cost of Goods Sold||0.78||2.09||0.00||0.00|
|Profit / (loss) before tax||45.68||22.84||-29.61||-27.23|
|Profit / (loss) After tax||42.70||34.09||-33.66||-19.61|
|Profit / (loss) After tax margin%||2.46%||1.19%||-1.59%||-0.95%|
FirstMeridian Business Services IPO Major Shareholders:
|S.NO.||Name of the Shareholder||No. of Shares||% of pre-Offer shareholding|
|1.||Manpower Solutions Limited||67,329,517||85.70%|
|2.||New Lane Trading LLP||4,764,589||6.06%|
|3.||Seedthree Trading LLP||4,050,977||5.16%|
FirstMeridian Business Services IPO Offer for Sale Details:
|S. No.||Name of the Selling Shareholder||Number of Equity Shares
being offered in the Offer for Sale (Up to)
|1.||Manpower Solutions Limited||[●] Equity Shares aggregating up to ₹615 Cr|
|2.||New Lane Trading LLP||[●] Equity Shares aggregating up to ₹42.5 Cr|
|3.||Seedthree Trading LLP||[●] Equity Shares aggregating up to ₹32.5 Cr|
FirstMeridian Business Services IPO Strengths:
FirstMeridian Business Services Limited’s market position is advantageous to capitalize on a favorable macroeconomic landscape and grow our business. In addition, the company’s scale of operations has enabled it to leverage centralized operations to provide comprehensive solutions to its clients with a short turn-around time.
FirstMeridian Business Services Limited’s core business is providing general staffing and allied services across diverse industries. The company’s general staffing and allied services business is its largest business segment in terms of revenue from operations. Owing to its scale of operations, the company has developed deep expertise around the human resource functions across different industries for its general staffing and allied services and are well equipped to cater to its clients’ needs.
FirstMeridian Business Services Limited has an established track record of organic and inorganic growth through strategic acquisitions to enhance the scale of the business operations and diversify the revenue streams. These acquisitions have been instrumental in the rapid growth of the company over the past four years since its inception to become the third largest staffing company in India, in terms of revenue for the financial year ended March 31, 2022
FirstMeridian Business Services Limited is a fast growing company with an asset-light business model. Within only four years since its inception, the company has become India’s third largest staffing company, in terms of revenue for the financial year ended March 31, 2022. The company’s CAGR in terms of revenue from operations was 17.92% for the year ended March 31, 2020 to the year ended March 31, 2022. The company deployed 126,824 Associates at September 30, 2022, compared to 108,738 as at September 30, 2021, 118,082 Associates at March 31, 2022, 95,228 at March 31, 2021, and 86,690 as at March 31, 2020.
FirstMeridian Business Services IPO Risk Factors:
FirstMeridian Business Services Limited operates in a highly competitive and fragmented industry and may be unable to compete successfully against existing or new competitors, particularly in the unorganized segment.
FirstMeridian Business Services Limited incurs significant employee benefits expense. An increase in employee costs in India may prevent it from maintaining its competitive advantage and may reduce its profitability.
FirstMeridian Business Services Limited’s business is subject to extensive government regulation, which may restrict the types of services it is permitted to offer or result in additional tax or other costs that reduce its revenue and earnings. Further, non-compliance with existing regulatory requirements may adversely affect the company.
Demand for FirstMeridian Business Services Limited’s staffing services may decline whereby human labor is or may be replaced by or disrupted by technology and automation, which may adversely affect the business prospect, operations and financial condition.
Objects of the Offer:
FirstMeridian Business Services Limited proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Repayment and/ or prepayment of all or certain portion of outstanding borrowing (including accrued interest) availed by one of the Subsidiaries, namely Innovsource Services Private Limited; and
- General corporate purposes.
FirstMeridian Business Services Limited IPO Prospectus:
- FirstMeridian Business Services Limited IPO DRHP- https://www.sebi.gov.in/filings/public-issues/jan-2023/firstmeridian-business-services-limited-drhp_67602.html
- FirstMeridian Business Services Limited IPO RHP-
Registrar to the offer:
Link Intime India Private Limited
Tel: + 91 22 4918 6200
Investor Grievance e-mail: firstname.lastname@example.org
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
FirstMeridian Business Services IPO FAQ
Ans.FirstMeridian Business Services IPO will comprise fresh share issue and new offer share issue. The company aims to go public to accelerate its growth and expansion plan.
Ans. The company will open for subscription on <>.
Ans. The minimum lot size that investors can subscribe to is <> shares.
Ans. The FirstMeridian Business Services IPO listing date is <>.
Ans. The minimum lot size for this upcoming IPO is <> shares.